Low profile hedge funds post high returns in year after New York Sohn conference

NEW YORK (Reuters) – One of the year’s most popular events for fund managers, the Sohn Investment Conference, will be held in New York on Monday, but if history is any guide, some of the industry’s…

Wells Fargo agrees to pay $1 billion to settle customer abuses

(Reuters) – Wells Fargo & Co will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with…

U.S. ‘junk’ bond funds take in most weekly cash since 2016: Lipper

NEW YORK (Reuters) – Investors stormed back into the market for the riskiest corporate debt during the latest week, Lipper data showed on Thursday, pumping the most cash into U.S.-based, high-yield…

Firearms companies widely held in ETFs and funds: research firm

BOSTON (Reuters) – An estimated 24 percent of the world’s exchange-traded funds and 15 percent of mutual funds have holdings in firearms companies, researcher Sustainalytics said in a report on…

Wall Street sees a win in proposed SEC investor protections

CHICAGO (Reuters) – The long-running fight to protect retirement savers from conflicted investing advice shifted to a new battleground this week, and the first salvo was not promising.

BlackRock wants regulators to address unequal voting rights

BOSTON (Reuters) – BlackRock Inc on Thursday called on securities regulators to set international standards for shareholder voting rights, suggesting they resolve one of the thorniest debates in…

Your money: Women who retire early can miss out

NEW YORK (Reuters) – Women have a math problem when it comes to retirement: On average, they retire two years earlier than men but they live five years longer.

Jane Rosenthal lives life on the Hollywood high wire

NEW YORK (Reuters) – Movie producers do not turn into household names as often as actors and directors, but Jane Rosenthal leapt to that level, and not just for her feature film projects.

UBS to lead European cross-border business from Switzerland

ZURICH (Reuters) – UBS will centralize its European cross-border wealth management business and run it out of Switzerland from June, the latest step within a series of reshuffles since merging its…

Goldman says jitters about U.S. yield inversion ‘overblown’

NEW YORK (Reuters) – Goldman Sachs analysts said on Thursday concerns about a U.S. yield curve inversion among traders as an omen of a looming recession are “overblown,” though an inversion is often…

SEC proposes rule to combat conflicted investment advice

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Wednesday proposed a new rule that would require brokers at firms like Morgan Stanley and Merrill Lynch Wealth Management to…

Cboe blasts ‘draconian’ plan to test banning stock exchange rebates

NEW YORK (Reuters) – A plan by U.S. regulators to test banning the rebates stock exchanges pay to brokers that provide liquidity, in an effort to reduce potential conflicts of interest, will…

St. Louis Fed study questions college as the great race equalizer

CHICAGO (Reuters) – Shavondra Britton had a pretty typical high school experience.

Activist investor RBR not a registered shareholder in Credit Suisse

ZURICH (Reuters) – Activist investor RBR Capital Advisors, which last year called for Credit Suisse to be broken up, does not hold any registered shares in the bank, both parties said on Wednesday.

Computer-driven hedge funds miss out as AA shares bounce

LONDON (Reuters) – Sometimes the old-fashioned methods work best and that proved true this week in the high-stakes world of hedge fund trading.

Credit Suisse says activist RBR no longer owns registered shares

ZURICH (Reuters) – Activist investor Rudolf Bohli and his RBR Capital Advisors no longer own any registered shares in Credit Suisse, the Swiss bank said on Wednesday.

Martin Whitman, founder of Third Avenue Management, dies at 93

NEW YORK (Reuters) – Martin J. Whitman, the founder of New York-based investment firm Third Avenue Management and known for his “safe and cheap” value-investing strategy, died Monday evening at 93,…

Goldman outpaces peers in debt underwriting, bond trading

NEW YORK (Reuters) – Goldman Sachs Group Inc on Tuesday reported a year-on-year jump in debt underwriting revenue after working on financing for big M&A deals that some peers missed out on.

Activist investor Jana hired staff for new socially responsible fund

NEW YORK (Reuters) – Jana Partners LLC, the activist investment firm now taking steps into socially responsible investing, has hired a portfolio manager and analyst to help oversee its effort of…

Battle over board seats at Destination Maternity heats up

BOSTON (Reuters) – One of Destination Maternity Corp’slargest investors on Monday accused the retailer of “governance shenanigans” and asked it to clarify exactly how many directors will be elected…

Big activist investors have first-quarter losses while small counterparts thrive

BOSTON (Reuters) – Well known U.S. activist investors including Nelson Peltz and William Ackman took a hit from the first-quarter U.S. stock market slump, with their funds losing money while some…

Icahn nominates five to replace entire SandRidge board

HOUSTON (Reuters) – Billionaire activist investor Carl Icahn on Monday nominated a five-person slate of his employees and business associates to replace the SandRidge Energy Inc board of directors,…

Carl Icahn sells Tropicana casinos in $1.85 billion deal

(Reuters) – Billionaire investor Carl Icahn is cashing out of casino business Tropicana Entertainment in a $1.85 billion deal that will see Eldorado Resorts picking up Tropicana’s casino operations…

Exclusive: Investor Gatemore pushes for break-up of logistics firm Wincanton

LONDON (Reuters) – Gatemore Capital Management has built a stake in Wincanton and called on the British logistics company to break itself up by selling one of its two divisions, according to a letter…

Guggenheim says it is cooperating with SEC investigation

NEW YORK (Reuters) – Guggenheim Partners on Sunday said it was “cooperating fully” with an investigation of its asset management subsidiary that is being conducted by the U.S. Securities and Exchange…

Goldman Sachs buys personal finance start-up Clarity Money

NEW YORK (Reuters) – Goldman Sachs Group Inc bought Clarity Money, a personal finance startup, to bolster its Marcus online lending business, it said Sunday.

Guggenheim cooperating with SEC investigation: statement

NEW YORK (Reuters) – Guggenheim Partners on Sunday said it was “cooperating fully” with an investigation of its asset management subsidiary that is being conducted by the U.S. Securities and Exchange…

Micro Focus shares jump on report Elliott takes stake

LONDON (Reuters) – Micro Focus shares surged on Thursday, with traders citing a Bloomberg report that hedge fund Elliott Management has taken a stake in the UK software firm.

U.S. states eye protections for investors if federal regulation falters

The question could become important if the financial services industry wins its high-stakes legal and political battles to dismantle the federal fiduciary rule governing advice to retirement…

Activist investor Barington nominates two directors at Xerium

BOSTON (Reuters) – Activist investor Barington Capital Group LP launched a fight for two board seats at machine industry company Xerium Technologies Inc., according to a regulatory filing made on…